What's Going On With First Solar Stock Today? - First Solar (NASDAQ:FSLR)

Core Viewpoint - First Solar, Inc. reported mixed quarterly results, with earnings per share missing estimates and sales exceeding expectations, while the company expressed a cautious outlook due to policy and trade uncertainties [1][2]. Earnings Snapshot - The company reported earnings of $4.84 per share, below the consensus estimate of $5.14 [2]. - Quarterly sales reached $1.68 billion, surpassing the Street estimate of $1.56 billion and increasing from $1.51 billion in the same period last year, driven by higher module sales volume [2]. - For fiscal 2026, First Solar projects revenue between $4.9 billion and $5.2 billion, lower than the $6.12 billion analyst estimate [2]. Analyst Ratings - Susquehanna analyst Biju Perincheril maintains a Positive rating but lowers the price target from $292 to $280 [3]. - Baird analyst Ben Kallo downgrades First Solar from Outperform to Neutral, reducing the price target from $264 to $205 [3]. - RBC Capital analyst Christopher Dendrinos keeps an Outperform rating while lowering the price target from $258 to $236 [3]. Conference Call Takeaways - During the quarterly conference call, the company outlined its 2026 roadmap following record module sales in 2025, emphasizing policy uncertainty and tariff pressures [4]. - CEO Mark Widmar noted a selective contracting strategy amid a volatile market, with recent bookings enhancing the earnings profile within the backlog [4]. Bookings and Backlog - The company secured gross bookings of 2.3 GW, excluding domestic India volume, and booked 1 GW in the U.S. utility scale market at an average selling price of $0.364 per watt [5]. - The CEO highlighted evolving tariffs and foreign-entity restrictions as significant factors affecting the business [5][6]. Manufacturing Expansion - First Solar commenced commercial production in Louisiana, marking its fifth U.S. factory, and plans to establish a finishing site in South Carolina to support domestic content [7]. - By 2027, U.S. finishing capacity is expected to reach 3.5 GW, with a total nameplate capacity of 14.9 GW in 2026, increasing to 17.1 GW in 2027 [8]. Technology Development - The company is advancing its CuRe semiconductor platform and plans to convert factories accordingly [9]. Stock Performance - First Solar shares experienced a decline of 12.91%, trading at $211.81 [9].